As the global container ship flights have been canceled 47, the next four weeks will continue to cancel 31, 72% of the canceled flights from China, Japan and other countries. The current container congestion in the U.S. West port is still increasing, and the U.S. side said this phenomenon can not be solved in a short time.
U.S. logistics managers are preparing for delays in delivering cargo from China in early January due to container ship cancellation sailings and ocean carrier export delays. Carriers have been implementing aggressive capacity management strategies, announcing more stoppages and service suspensions to balance supply and demand. worldwide Logistics Group chief executive Joe Monaghan said, "Container freight rates from Asia continue to decline due to sharply reduced demand, forcing ocean carriers to cancel more sailings than ever before as vessel utilization hits record lows. " Falling manufacturing orders from the U.S. and the European Union have also affected Vietnam, which has been thriving as a manufacturing hub as more and more trade shifts away from China.
According to a report by the General Statistics Office of Vietnam, 12,500 companies have closed down each month since the start of the year, up 24.8 percent year-on-year. The combination of a lack of manufacturing orders in Vietnam and a rise in interest rates on loans from 6.5 percent to 13.2 percent has led many companies to close factories rather than sign new order contracts. 50 percent more ocean voyages to Vietnam were canceled in December.
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